Dendreon said Medicare will now cover its prostate-cancer treatment Provenge. The drug is the first Food and Drug Administration-approved immunotherapy for prostate cancer to get Medicare coverage, according to the Centers for Medicare & Medicaid Services.
The decision, among other factors, ?will increase physician confidence in their ability to secure reimbursement for Medicare patients, and positively impact Provenge demand as additional manufacturing capacity comes online,? analyst Salveen Richter at Collins Stewart told clients late Thursday.
Stock in Dendreon DNDN +3.68% rose 3.1% to $40.66 in active trades.
medicare approves provenge
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